Procter & Gamble is a multinational corporation that manufactures and markets many products that you use every day. In 2013, sales for the company were $91,000 (all amounts in millions). The annual report did not report the amount of credit sales, so we will assume that all sales were on credit. The average gross profit percentage was 50.8 percent. Account balances for that year follow:

Accounts receivable (net) Inventory Beginning $ 5,700 6,480 Ending $ 6,100 6,500 Required: 1. Compute the following turnover ratios. (Do not round intermediate calculations. Round your final answers to 1 decimal place.) Receivables Turnover Ratio Inventory Turnover Ratio 2. By dividing 365 by your ratios from requirement 1, calculate the average days to collect receivables and the average days to sell inventory. (Round your intermediate calculations and final answers to 1 decimal place.) Average Days to Collect Receivables Average Days to Sell Inventory Average Days to San inventory days days Your friend, Suzie Whitson, has designed a new type of outdoor toy that helps children learn basic concepts such as colors, numbers, and shapes. Suzie's product will target two groups: day care centers in warm climates and home school programs. Her company is Jiffy Jet and costs for last month follow: Factory rent Company advertising Wages paid to assembly workers Depreciation for salespersons' vehicles Screws Utilities for factory Assembly supervisor's salary Sandpaper President's salary Plastic tubing Paint Sales commissions Factory insurance Depreciation on cutting machines Wages paid to painters $ 3,200 1,000 30.000 2,000 500 900 3,500 150 6,000 4,200 250 1.200 1,000 2,000 7,500 2. Determine the total cost for each of the following: a. Direct Materials Direct Labor Manufacturing Overhead Prime Cost Conversion Cost Total Product Cost